Should I get worried because I took Aegon Religare Term Plan whose claim settlement ratio is just 68% as per IRDA ?

POSTED BY itsvibhor ON May 13, 2014 3:36 pm COMMENTS (2)

Hi,

I had taken a term cover in 2012 (bought online) from Aegon Religare, which was issued after a complete medical check-up/test. I was 32 then & the premium for a cover of 1Cr for 30 years came to Rs 9200 p.a.

Recently, I found through IRDA site that the claim settlement by Religare for term covers is just 68% – which puts it in the bottom 5 insurance providers – My query is that is this something to be worried about & should I discontinue this plan & buy another one?

Thanks

Vyom

2 replies on this article “Should I get worried because I took Aegon Religare Term Plan whose claim settlement ratio is just 68% as per IRDA ?”

  1. ashalanshu says:

    Dear Vyom, why no insurer has 100% claim ratio?

    Thanks

    Ashal

  2. Nikhil Verma says:

    Dear Vyom,

    I don’t think you should be worried if you have made all the declarations correctly. Even then if you want to switch please purchase another Insurance before discontinuing current policy.

    Regards,
    Nikhil

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